The Green Economy in Bristol and the West of ... - Miguel Mendonça

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6 Executive Summary The single most important aspect of driving low carbon economic development is the existence of, and confidence in, a stable, well designed and implemented policy environment. The coalition government’s handling of green policy in 2011 has been much criticised by groups within government, industry and the third sector. This has applied in general, and in specific cases, such as the Feedin Tariff and the Green Deal. The role of government and the media in communicating the issues around energy investment has also been critiqued in a recent policy brief coauthored by Lord Nicholas Stern. It argues firstly that, “some standard models used in policy analysis are structured in ways that are inherently misleading. Second, […] that the expenditure involved in making the transition to a lowcarbon economy must be analysed as an investment, rather than being seen simply as a net cost or solely as a direct cost to the public purse. Third, it emphasises that this investment can drive an economic recovery. Fourth, it makes clear that the transition to the lowcarbon economy is likely to be dynamic, innovative and a period of strong growth. And fifth it highlights the importance of the credibility of policy in fostering new investment.” Given that renewable energy is in many ways a precondition for a greener economy, its low cost deployment will allow many more sectors of the economy to decarbonise their operations and commercial offerings. This applies equally to the public and domestic sectors. This report is only a beginning. It reflects the nature of the 'green economy' at this time, in that the areas which receive most investment are the ones which are studied, and therefore could provide data for Section 1. This is challenged in 'Annex A: Other Green Economy Aspects,' which briefly explores other important subjects which should be studied in detail. It covers peak oil, various aspects of sustainable design and retail, the food system, wellbeing and sustainability, and the activities of third sector groups. Time and space constraints precluded examination of other major issues such as green building, waste and procurement. This group of approaches and issues is vital to understand in developing a sophisticated concept of a resilient economy. The economist Milton Friedman said: "Only a crisis—actual or perceived—produces real change. When that crisis occurs, the actions that are taken depend on the ideas that are lying around.” The idea of Resilience Planning is one which should allow us not only to soften the local impact of any external shocks in the event of crisis, but to offer the model to other regions nationally and internationally. This will require an understanding of four key elements. Firstly, how to successfully integrate the systems a city region relies upon to function. Secondly, the degree of nonsubstitutable input and output dependencies the local area has on global systems, including food, energy, trade, finance and major resources. Thirdly, how to optimise local human, financial and institutional resources to design and deliver a resilience strategy. Fourth, how to collectively push for more sophisticated policy to support this integrative approach. Strategic collaboration, in addition to individual effort, is vital in taking this agenda forward in a meaningful way. The term 'Resilience Planning' is an attempt to offer a unifying concept, incorporating principles and objectives which guide the development of resilience and prosperity. The West of England can choose how it responds to the challenges of the times, but not whether to respond. It has the distinct benefits of a relatively healthy economy, abundant academic excellence, innovative and successful companies, a skilled and diverse workforce, a vigorous third sector, and many natural assets. It has difficulties with political shorttermism and party political division, and with joinedup thinking and doing between the unitary authorities, and between other major organisations. It is a great challenge to overcome longstanding difficulties of this kind, but the benefits of doing so, and thereby adding to the energetic private sector activity described in this report, will prove worthy of the effort. Resilience Planning is a concept borne directly out of the research process for this report, looking at local assets, needs, threats and opportunities. Drawing on the deep and wide pool of resources in the region and exploring how we can cocreate a resilient, prosperous place is not only vitally necessary, but an exciting opportunity to literally make our own future. The challenges of the times are such that no amount of ambition is too great. The Green Economy in Bristol and the West of England
Executive Summary Recommendations 1. Explore and develop the principles and objectives of Resilience Planning in the city region; this unifying concept for ongoing strategic collaboration draws together economic development and opportunity with planning, investment, local decisionmaking, national policy, education and skills, innovation, technology, social capital and wellbeing. It will chiefly integrate and optimise energy, transport and food systems. 2. All local actors should be able to contribute to the development of Resilience Planning. The process will require regular contact between businesses, academia, local authorities, third sector groups and communities, particularly with regard to system design, exploration of revenueraising opportunities and green innovation for the region. 3. Regularly assess the extent to which local actors can work within existing legal and policy frameworks to enact strategies suggested through Resilience Planning, and identify specific cases where policy engagement work can be pursued collectively which would facilitate it. 4. Produce a study which provides a much broader understanding of the concept of ‘green economy’ as referred to in summary in Annex A of this report. A focus on the implications of peak oil and other resource depletion issues will help to inform local and regional strategy on remaining competitive and functional under such conditions. 5. Assess the implications of growth in the carbon finance sector for Bristol. 6. Assess the potential for powering the region by renewable energy, examining technical and investment issues. Any excesses could provide export value. The 25 GW energy gap facing Britain in the next decade will require investment that could pay off significantly in energy security terms for both business continuity and service provision. Local investment in local energy assets would also minimise the level of local finances leaving the region to pay for energy imports. 7. Create a regularly updated resource on both conventional and innovative funding mechanisms for renewable energy and energy efficiency investment; maintain a similar resource on the evolving policy environment. 8. Invest annually, through a consortium of funders, in updates of the database currently supplied by K Matrix (used by UWE to supply the bulk of the data for this report), which studies the entire environmental technologies sector in detail. The Green Economy in Bristol and the West of England 7
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The Green Economy in Bristol and the West of ... - Miguel Mendonça

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